ASA vs OGG: Correlation
How closely do ASA Gold and Precious Metals Limited (ASA) and Osisko Gold Group Inc. (OGG) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and OGG?
Across a 3-year window, the weekly returns of ASA and OGG correlate at 0.64, strong. The link has tightened recently: the 1-year correlation (0.86) runs above the 3-year figure (0.64). Stretching to 5 years gives 0.62, with an annualized covariance of 1727.3 %².
By 3-year correlation, OGG places #39 of the 59 assets tracked against ASA. The last year tells two different stories: ASA led by 63.8 percentage points, +77.0% for ASA against +13.2% for OGG.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASA vs OGG: side by side
| ASA (ASA Gold and Precious Metals Limited) | OGG (Osisko Gold Group Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +13.2% |
| 5-year return | +218.5% | -73.6% |
| Volatility (ann.) | 42.5% | 63.4% |
| Beta vs S&P 500 | 0.92 | 1.12 |
| Max drawdown (3Y) | -40.8% | -65.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | OGG |
|---|---|---|
| 2022 | -32.1% | -55.5% |
| 2023 | +5.4% | -32.3% |
| 2024 | +34.5% | -44.0% |
| 2025 | +195.6% | +114.1% |
| 2026 | +9.5% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and OGG good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASA and OGG?
As of 2026-08-27, the correlation of weekly returns between ASA and OGG is 0.64 over 3 years, 0.86 over 1 year and 0.62 over 5 years.
Is OGG a good diversifier for ASA?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asa-vs-ogg.json
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Related comparisons
Hubs: ASA correlations · OGG correlations
